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Issue of March 20, 2006 |     |
Saga of Borders Building May Have Happy EndingBy Joe Clements It looks like there could soon be a happy ending on the disposition of the Borders Book & Music Store building in Boston’s Downtown Crossing – particularly for the sellers. Local Partnership to Assume Equity Office’s Retail Duties By Joe Clements Having handled retail leasing internally since arriving in Boston more than a decade ago, Equity Office Properties is about to delegate those duties to a local partnership, company officials have confirmed. Schaffer & Assoc. and American Retail Properties will oversee approximately 250,000 square feet of retail space in EOP’s Massachusetts portfolio, acknowledged Maryann Gilligan Suydam, senior vice president of the Boston region for the Chicago-based real estate investment trust. 34-Story Hub Office Tower Likely Headed for Sales Block By Joe Clements Despite continued silence from its New York-based owner, Boston’s One Beacon St. does appear headed to the commercial real estate trading block, with additional sources now backing claims that surfaced last week indicating the 34-story tower is being put up for sale. The Feil Organization has owned One Beacon St. for slightly more than a year, paying $340 million for the 1.1 million-square-foot building in October 2004. |
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